By Barbara Kollmeyer, MarketWatch

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London stocks remained stuck in the red on Friday, with downbeat data driven by the coronavirus and losses for energy and insurance names weighing on the main index.
The FTSE 100 index /zigman2/quotes/210598409/delayed UK:UKX +1.19% fell nearly 1% to 5,444.91, for a weekly loss of 1.7%. The pound slumped 1.2% against the dollar to $1.2253, for a weekly drop of 1.7%.
Bleak economic data hit Europe and the U.K. on Friday, with March data indicated the steepest downturn across the U.K. service sector for more than two decades. The seasonally adjusted IHS Markit/CIPS Final UK services PMI business activity index came in at 34.5 in March, below a “flash” reading of 35.7 and down sharply from 53.2 in February.
That’s after eurozone PMI numbers slumped to 26.4 from 52.6 in February, the worst-ever reading in the history of the series.
Insurers were big losers as regulators from the European Insurance and Occupational Pensions Authority late Thursday asked insurers and reinsurers to suspend dividends and postpone bonuses amid the coronavirus crisis, a move that has been seen in the banking sector as well.
Shares of Prudential PLC /zigman2/quotes/200530572/delayed UK:PRU +2.95% dropped 2.8%, while RSA Insurance Group PLC tumbled 6% and Admiral Group PLC /zigman2/quotes/201079056/delayed UK:ADM +1.26% dropped 3%.
Oil prices climbed again on Friday, but that did nothing to help major oil companies BP /zigman2/quotes/207305210/composite BP +0.81% /zigman2/quotes/202286639/delayed UK:BP +1.09% and Royal Dutch Shell , whose prices fell around 5% each.
Shares of Pearson PLC /zigman2/quotes/204954587/delayed UK:PSON +1.83% were big decliners, down over 10%, while pub operator Whitbread PLC /zigman2/quotes/207954631/delayed UK:WTB +1.87% tumbled 8%.
















